29/11/2024 Daily Reports
A surprise surge in Tokyo’s inflation sent the yen soaring to its strongest level in six weeks, breaking the critical 150-per-dollar mark. With core inflation accelerating, traders are ramping up expectations for the Bank of Japan to hike rates next month, signaling a potential end to ultra-loose monetary policy. Meanwhile, Chinese markets rallied on factory growth optimism, and European markets await key inflation data that could shape the ECB’s next rate move. As November closes with dramatic market shifts, December looms with pivotal decisions from central banks and new policy moves from President-elect Trump.
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Gold Surges Amid Rising Risks and Dollar Weakness!
Could gold hit new record highs in 2025? Here’s what’s driving the market:
Gold Gains Momentum:
Gold climbed 1% to $2,665 an ounce, marking its fourth consecutive day of gains as the dollar weakens.
Geopolitical Tensions Rise:
Putin’s warning of strikes on “decision-making centers” in Kyiv raises demand for safe-haven assets like gold.
Weaker Dollar Boosts Demand:
The US Dollar Spot Index is down 1.1% this week, making gold more affordable for international buyers.
2025 Gold Outlook Shines Bright:
Goldman Sachs and UBS predict fresh record highs next year as geopolitical risks, central bank buying, and monetary easing continue to support gold.
Silver and Platinum Join the Rally:
It’s not just gold—silver, platinum, and palladium are all advancing alongside the precious metals surge.
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